Thai Stock Market Roundup July 04, 2019

– SET Closed at 1,724.37 points, declined 14.14 points or 0.81% with a trading value of THB 88,848 billion. SET index closed in the negative territory by 14 points due to the effect of selling pressure from investors poured for the profit taking, especially power generation stocks.

The big movers in the market today were stocks involving in power plant business such as BCPG Public Company Limited (BPCG), Gulf Energy Development Public Company Limited (GULF) and Global Power Synergy Public Company Limited (GPSC).

The analyst said after the aforementioned stocks had been hiking recently, believing the selloff was from institutions. Moreover, the analyst stated that the profit taking could occur anytime after the Thai market rises to a certain point.

– Institutions and Proprietary Trading poured a net sell of THB3,457.54 million while Foreign Investors continue to net bought THB1,599.63 million for the 4th day.

– OCEAN approved to study due diligence on a property development company and agreed to sign MOU with ฿50 million cash deposit.

– Vietnam and EU faced difficulties from the U.S. tariff threats after talking with China resumed.

– Stocks in Focus on 4 July 2019: NER and AMATA
            – The analyst recommended “BUY” NER share at the target price of ฿3.40/share due to a net profit of NER in 2Q2019 will recover again and continuously grow onward due to the low production cost, the high price of rubber, and the new production of RSS-Mixture.
            – AMATA is one stock that needs to be in focus due to AMATA is benefiting from ongoing EEC project, selling lands to the investors who move the production base to Thailand, selling water and electricity, and rental fees. Moreover, there are plans to cooperate project with Japan to construct 250 hotel rooms and construct Amata University. Therefore, the analyst recommended “BUY” AMATA’s share at the target price of ฿28.00/share.

– Consumer confidence fell to 76.4 points in June, marking the 4th month of the plummet in a row.

– NOBLE closed the day at THB22.00, increased THB3.00 or 15.79%. During the session, the highest of NOBLE’s share price was THB22.00 and the lowest was THB19.60 with a trading value of THB294,257 million. The share price of NOBLE reached a new high in 4 months which might due to the effect of business restructuring and changing in the management. The analyst recommends “BUY” with the target price at ฿24.30/share.

– BCPG closed the day at THB19.20, fell THB1.80 or 8.57%. During the session, the highest of NOBLE’s share price was THB21.50 and the lowest was THB19.00 with a trading value of THB3,060 million. As a result of overbought, BCPG’s share price has sharply decreased by 8%.

Top 10 Most Impact Shares on July 04, 2019